Monday, January 8, 2018

This Could Be Big: Trump Is Close to Picking Fed Vice Chairman

President Donald Trump is very close to making a decision on his nominee to be vice chairman of the Federal Reserve, said a White House official, according to Bloomberg.

This could turn out to be a very important pick since the incoming Fed chairman is Jay Powell, who is a lawyer not an economist. Thus, the vice-chair, who no doubt will be an economist, or at least have a financial background, will likely have significant input into how aggressively the Federal Reserve prints money.

Those that have been speculated to possibly be the pick are across the money printing spectrum. But the name to watch for is former Fed Governor Lawrence Lindsey. He is a hardcore bubble buster, If Trump picks him the boom will be over in no time.